SCHEDULE 10                                  
                                                                               
                   NOTIFICATION OF MAJOR INTERESTS IN SHARES                   

 Name of company

      Exel plc


2)    Name of shareholder having a major interest

Morley Fund Management Limited (a subsidiary of Aviva plc)


3)    Please state whether notification indicates that it is in respect of

holding of the shareholder named in 2 above or in respect of a

non-beneficial interest or in the case of an individual holder if it is a

holding of that person's spouse or children under the age of 18

2 above

4)    Name of the registered holder(s) and, if more than one holder, the

number of shares held by each of them

 

BNY Norwich Union Nominees Ltd 3,502,625
                                        
BT Globenet Nominees Ltd       3,200    
                                        
Chase GA Group Nominees Ltd    7,284,822
                                        
Chase Nominees Ltd             716,726  
                                        
CUIM Nominee Ltd               3,350,731
                                        
RBSTB Nominees Ltd             414,128  
                                        

 

Number of shares/amount of stock acquired

 

800,000

6)    Percentage of issued class

 

0.27%


7)    Number of shares/amount of stock disposed

 

Nil


8)    Percentage of issued class

N/A


9)    Class of security

 

Ordinary shares of 27 7/9p


10)   Date of transaction

 

10 June 2003

11)   Date company informed


11 June 2003

 Total holding following this notification

 

 15,272,232 shares

13)   Total percentage holding of issued class following this notification

 

 5.13%

14)   Any additional information

 

None


15)   Name of contact and telephone number for queries

 

 Stephanie Coffey

 Telephone: 01344 744443

16)   Name and signature of authorised company official responsible for

 making this notification

 

 Stephanie Coffey, Deputy Company Secretary

      Date of notification .....12 June 2003





END